SE is a buy
財經台韭菜
289 回覆
14 Like
17 Dislike
應該上望幾錢
你冇逢低加碼咩？
跌10%就溝, 多多錢都唔夠TikTok raises commissions in Indonesia; leaves room for Shopee Indonesia to increase take-rates
- Our channel checks indicate that TikTok Indonesia has raised commissions in Indonesia by up to 290bps. The changes in Indonesia follow TikTok increasing take-rates in across ASEAN along with reduced shipping vouchers and increased subscription fees for its shipping fee program.
- In our view, the adjustments by TikTok leave room for Shopee Indonesia to increase take-rates after Shopee materially increased take-rates in other countries across ASEAN.
- The changes by platforms are indicative of a better competitive environment in ASEAN with an incrementally higher focus on ROI.
- However, Shopee could still face higher competition in Indonesia after the integration of TikTok and Tokopedia as TikTok could look to gain market share.
- **TikTok raises commissions in Indonesia by up to 290bps.** Effective 1 May 2024, TikTok will be adjusting the marketplace commission fees charged for each of the product sub-category to up to 6.5%. In fashion, TikTok is raising marketplace commission fees to 4-6.5% from 1.9 - 4.3%.Within lifestyle and FMCG categories, TikTok is raising marketplace commission fees to 4-6.5% from 2.7-3.6% and 2.7-4.3%, respectively.**Signs of incrementally higher focus on ROI at social commerce platforms.** We find TikTok has been increasing seller take-rates (ex ads) across ASEAN. In Thailand, TikTok is charging commissions of up to 8% while it has also selectively reduced shipping vouchers. In Malaysia, TikTok has increased subscription fees for its shipping fee program.The changes could be indicative of the social commerce industry in ASEAN pivoting away from aggressive growth phase.**Adjustments by TikTok leave room for Shopee Indonesia to increase take-rates.** Shopee has been raising commission across the region. Effective Apr-24, 1) Shopee has raised the Shopee marketplace and the Shopee Mall take-rate in the Philippines by up to 380bps.Effective take-rates in the Philippines are 6.5-7.8% for Shopee marketplace and 6.9-8.9% for Shopee Mall; 2) Shopee has raised the Shopee marketplace and the Shopee Mall take-rate in Thailand by up to 100bps.Effective take-rates in Thailand are 8-9% for Shopee marketplace and 8-11% for Shopee Mall; and 3) SE has raised Singapore Shopee Mall take-rates by up to 250bps. Effective Mar-24, Shopee has raised commission by up to 400bps at Shopee marketplace and Shopee Mall Malaysia.With Tiktok adjusting commission fees and Shopee under-indexing in effective take-rates in Indonesia vs its other geographies, we believe Shopee could look to improve take-rates in Indonesia.
- Our channel checks indicate that TikTok Indonesia has raised commissions in Indonesia by up to 290bps. The changes in Indonesia follow TikTok increasing take-rates in across ASEAN along with reduced shipping vouchers and increased subscription fees for its shipping fee program.
- In our view, the adjustments by TikTok leave room for Shopee Indonesia to increase take-rates after Shopee materially increased take-rates in other countries across ASEAN.
- The changes by platforms are indicative of a better competitive environment in ASEAN with an incrementally higher focus on ROI.
- However, Shopee could still face higher competition in Indonesia after the integration of TikTok and Tokopedia as TikTok could look to gain market share.
- **TikTok raises commissions in Indonesia by up to 290bps.** Effective 1 May 2024, TikTok will be adjusting the marketplace commission fees charged for each of the product sub-category to up to 6.5%. In fashion, TikTok is raising marketplace commission fees to 4-6.5% from 1.9 - 4.3%.Within lifestyle and FMCG categories, TikTok is raising marketplace commission fees to 4-6.5% from 2.7-3.6% and 2.7-4.3%, respectively.**Signs of incrementally higher focus on ROI at social commerce platforms.** We find TikTok has been increasing seller take-rates (ex ads) across ASEAN. In Thailand, TikTok is charging commissions of up to 8% while it has also selectively reduced shipping vouchers. In Malaysia, TikTok has increased subscription fees for its shipping fee program.The changes could be indicative of the social commerce industry in ASEAN pivoting away from aggressive growth phase.**Adjustments by TikTok leave room for Shopee Indonesia to increase take-rates.** Shopee has been raising commission across the region. Effective Apr-24, 1) Shopee has raised the Shopee marketplace and the Shopee Mall take-rate in the Philippines by up to 380bps.Effective take-rates in the Philippines are 6.5-7.8% for Shopee marketplace and 6.9-8.9% for Shopee Mall; 2) Shopee has raised the Shopee marketplace and the Shopee Mall take-rate in Thailand by up to 100bps.Effective take-rates in Thailand are 8-9% for Shopee marketplace and 8-11% for Shopee Mall; and 3) SE has raised Singapore Shopee Mall take-rates by up to 250bps. Effective Mar-24, Shopee has raised commission by up to 400bps at Shopee marketplace and Shopee Mall Malaysia.With Tiktok adjusting commission fees and Shopee under-indexing in effective take-rates in Indonesia vs its other geographies, we believe Shopee could look to improve take-rates in Indonesia.
而家先留意到佢，呢個市都咁，幾強
SE: BAML upgrades to buy
BAML sees stabilizing competition in e-com saying EBITDA losses in the biz have bottomed out in their view and they see room for take rates to begin to go up. BAML is positive on the e-com biz as they see room for Shoppe to grow GMV as it scales live streaming offering and optimizes costs. BAML cites ads, take rates, and other initiatives for future EBIT margin improvement.
BAML sees stabilizing competition in e-com saying EBITDA losses in the biz have bottomed out in their view and they see room for take rates to begin to go up. BAML is positive on the e-com biz as they see room for Shoppe to grow GMV as it scales live streaming offering and optimizes costs. BAML cites ads, take rates, and other initiatives for future EBIT margin improvement.
SE嚟料啦
17/5 $75 call 好多Open Interest
@60 放左
屌，而家即刻買返，催化劑出現啦
唔正股啦, 買option 算
我正股加Call，呢隻超有信心
ching 點解咁confident? 你睇好佢Gaming 定係Ship業務?
e com做起咗，gaming就可有可無，一路以嚟嘅論述都係靠gaming嘅金流去補貼e com，但而家e com有望下年EBITDA轉正，而且管理層ER call都暗示咗會克制燒錢（之前好景亂買廣告、亂開新市場），一切都變得好明朗
只要SE唔亂嚟，按照目前策略執行，穩坐東南亞電商市場一哥個位
師兄買幾遠嘅call
LM跟進
btw 講起東南亞股, 可能留意下$GRAB, 未來東南亞Uber
btw 講起東南亞股, 可能留意下$GRAB, 未來東南亞Uber
買少量今年五月尾賭一賭財報，主要係下年年中嘅LEAPS
買long call？應該買幾遠既option？
Tiktok 加coupang 等等大家爭食，點解覺得佢會贏
SE: Loop upgrades to Buy
3rd sell-side upgrade in a couple weeks as Loop thinks the recent announcement of a commission rate increase by the combined Tiktok-Tokopedia, its first move since merging to satisfy Indonesian regulators, “has sparked a revluation” of SE. Loop believes this signals that the shift to sustained profitable growth is finally underway and serves as a significant catalyst for SE as “competitive rationality” sets in.
3rd sell-side upgrade in a couple weeks as Loop thinks the recent announcement of a commission rate increase by the combined Tiktok-Tokopedia, its first move since merging to satisfy Indonesian regulators, “has sparked a revluation” of SE. Loop believes this signals that the shift to sustained profitable growth is finally underway and serves as a significant catalyst for SE as “competitive rationality” sets in.
先睇$81？ 